July 2012 Archive

Tax reform and 401(k) fairness

July 10, 2012

A key element of the debate over comprehensive tax reform and retirement savings tax incentives will be the fairness of the current 401(k) system. In this article we review current fairness arguments and the data that opponents and proponents put forward in support of their views. Read More

How efficient is the 401(k) system?

July 10, 2012

In this article we review two recent papers highlighting "efficiency critiques" – one from the General Accounting Office (GAO, who reports to Congress) and the other from Dēmos (an independent advocacy group). Our purpose is not to advocate one view or another but to describe the terms of any forthcoming debate over changes to the 401(k) system in the context of comprehensive tax reform. Read More

Pension Funding Relief / PBGC Premium Increases

July 01, 2012

In what is likely to be the last retirement-related legislation before the November election, Congress approved limited DB funding relief and an increase in Pension Benefit Guaranty Corporation premiums, as "revenue raisers" in a bill that includes transportation legislation and an extension of student loan interest rate relief. In this article we discuss the funding relief and premium increase in detail. Read More

June 2012 Pension Finance Update

July 01, 2012

While the big news for pension sponsors last week was the passing of funding relief legislation (discussed below), the markets ended the first half of 2012 with a bang. Stocks enjoyed their best day of the year on the last trading day in June, capping the most volatile month of the year in the market, and leaving pension sponsors modestly ahead through the first half of 2012. Download

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